The simplest planned gift of all, and the most tax-efficient, is made from a tax-deferred retirement plan: 401(k) plans, 403(b) plans and individual retirement accounts (IRAs). Left as part of an estate, tax-deferred assets will be subject to income tax and possibly other forms of taxation. Where qualified, however, naming the Alpha Delta Phi Foundation as a beneficiary of a retirement plan allows the gift to pass directly to the Alpha Delta Phi Foundation free of any taxes.
This is also one of the easiest gifts to put in place. In most instances, simply go to the web site of the trustee or custodian of the plan and change the beneficiary designation. Like a bequest from a will or trust, the gift may be a specific dollar amount or a percentage of the plan assets.
To designate the Alpha Delta Phi Foundation as a retirement plan beneficiary, you’ll need the Foundation’s tax ID number, which is 13-6116015. Please consider sending us a copy of your beneficiary form for our records.